Treasury has published two consultation documents on aspects of the SRR:
- the first looks at the new building society insolvency and special administration procedure and consults on how to allow societies to receive financial assistance. Treasury had to make legislation before consulting on it because of the Dunfermline failure, but committed to consult fully and make appropriate changes later. Treasury wants comments by 21 October;
- the second builds on earlier proposals and regulations on how FSCS contributes to the costs of the SRR. Again, Treasury made emergency Regulations following the Dunfermline’s failure, but sees no reason to change them. Nevertheless, Treasury wants comments on the Regulations by 30 October.